Banking, finance and capital markets in Iceland

Banking, finance and capital markets is a core practice at BBA//Fjeldco, where the team has considerable experience in financial structures; it is instructed by local banks, including Íslandsbanki, Kvika Banki and Landsbankinn, on multijurisdictional financing deals. Recent matters included advising Arctic Green Energy on a $200m debt refinancing of the company and its subsidiaries, where practice co-leader Halldór Karl Halldórsson acted as lead adviser. Elsewhere, the practice counts companies listed on Nasdaq OMX Iceland, as well as banking clients including Barclays, JP Morgan and HSBC, among its roster of clients. Team co-leader Ásgeir Ragnarsson is also a key contact in the practice, as is Bjarki Diego.

Praised for its ‘superb knowledge of banking, finance and capital markets’, Lex Law Offices counts domestic and international financial institutions among its key list of clients, including Landsbankinn and Síldarvinnslan; the team assisted the latter during its listing on the OMX Nasdaq market. The practice advises clients on derivatives, structured finance and refinancing matters, and acts for issuers of both debt and equity instruments. Team leader Ólafur Haraldsson specialises in corporate financing work, while Guðmundur Ingvi Sigurðsson focuses on debt restructuring mandates and the ‘meticulous’ Stefán Orri Ólafsson advises listed companies on the disclosure requirements for regulated securities markets.

LOGOS excels in the field of capital markets and has recently handled significant transactions, including acting as local counsel to Citigroup, JP Morgan and Íslandsbanki on the €377m IPO of Íslandsbanki by the Icelandic State Financial Investments. Elsewhere, the practice acts for Icelandic and international banks, including Arion Bank, Landsbanki and Kvika Bank, in addition to other financial institutions. Thórólfur Jónsson, who has experience in financial restructurings and advises major venture capital funds in Iceland, jointly leads the team alongside Óttar Pálsson, who also heads up the firm's banking task force.

Counting Arion Bank as one of its key clients, ADVEL Attorneys at Law continues to collaborate with international law firm Allen & Overy LLP and provides ongoing advice as local counsel to Arion Bank on its EMTN and covered bond programmes. The team, which is led by corporate partner Stefán Þór Ingimarsson, advises insurance companies and other financial institutions on reorganisations, loan agreements and financing matters. Other key members of the team include Ragnar Guðmundsson, Dóra Sif Tynes and Bjarni Þór Bjarnason, who joined the firm in mid-2021 from Deloitte Legal ehf..

Lagahvoll’s caseload includes bond issuances and corporate financing matters, as well as advising its list of corporate clients on the financial aspects of M&A transactions, investments, start-ups and venture agreements. Daði Bjarnason, who is ‘always ready and willing to assist’ banks, brokerage and securities companies with financial and restructuring issues, jointly leads the team alongside Jóhann Tómas Sigurðsson. Key clients include travel tech company Dohop, Félagsbústaðir and Félag eldri borgara og nágrenni.